The majority of consumers (61%) say they plan to spend about the same this year, up 2 points from last year. About one-third of survey respondents say they plan to spend less, which is the same as last year; and only nine percent say they plan to spend more, down 2 points from 2009.
“Even though the recession is technically over, lingering concerns are keeping consumers in a cautious frame of mind,” Marshal Cohen, chief industry analyst, The NPD Group, said in a statement. “We are seeing what I call ‘calculated consumption,’ and I believe that it is a consumer mind-set that will be around after holiday shopping is over.”
For a more complete breakdown of the numbers, and a look at where shoppers will concentrate their spending, click HERE.